Stocks To Watch- Adani Enterprises, Godrej Consumer, SBI, SBI Cards, Paytm, Tata Power, Indian Energy Exchange

Stocks To Watch: Adani Enterprises, Godrej Consumer, SBI, SBI Cards, Paytm, Tata Power, Indian Energy Exchange

Stocks in focus: The SGX Nifty experienced a slight decline of 0.11% on Tuesday, trading at 18,704.5, indicating a slightly negative opening for the domestic indices NSE Nifty 50 and BSE Sensex. However, the previous day’s trading session concluded on a positive note, with Nifty 50 closing at 18,594, reflecting a gain of 0.32%, and Sensex reaching 62,787, up by 0.38% or 240 points.

“The equity market is maintaining stability due to a continuous stream of favourable domestic economic indicators. Stronger-than-expected domestic PMI figures, sequential growth in auto sales, and robust expansion in bank credit are instilling investor confidence in India’s growth prospects. On the other hand, the US jobs data presented a mixed picture, with non-farm payroll showing acceleration while the unemployment rate surged from 3.4% to 3.7% in May,” said Vinod Nair, Head of Research, Geojit Financial Services.

Godrej Consumer Products

GCPL announced the appointment of Aasif Malbari as its Chief Financial Officer (CFO), with effect from August 10, 2023. Aasif Malbari is currently the CFO of Tata Passenger Electric Mobility and Director of Tata Motors Passenger Vehicles.

Paytm

The disbursements of Paytm rose 169% on-year to Rs 9,618 crore during April and May, parent One97 Communications said. In terms of volume, loans rose 54% on-year to 8.5 million.

Tata Power

Tata Power Renewable Energy commissioned a 110 megawatt (MW) solar energy project at Bikaner, in Rajasthan.The project is expected to generate approximately 211 million units (MU) of green electricity.

SBI

The State Bank of India board is scheduled to meet and consider raising funds and “to seek approval for raising funds during FY24 through private placement mode by way of issuance of debt instruments (including capital instruments) in INR and/or any foreign currency.”

Indian Energy Exchange

Indian Energy Exchange achieved 8,251 MU overall volume traded in May 2023, higher 8% on an on-year basis.

SBI Card

SBI Card’s board approved raising of funds by way of issuance of Non-Convertible Debentures (NCDs) aggregating to Rs 3,000 crore in one or more tranches, on private placement basis.